Bli medlem
Bli medlem

Du är här

2016-02-26

Royal Bank of Canada: 1st Quarter Results

FIRST QUARTER 2016

EARNINGS RELEASE

ROYAL BANK OF CANADA REPORTS FIRST QUARTER 2016 RESULTS

All amounts are in Canadian dollars and are based on financial
statements prepared in compliance with International Accounting
Standard 34 Interim Financial Reporting, unless otherwise noted. Our
Q1 2016 Report to Shareholders and Supplementary Financial
Information are available on our website at
rbc.com/investorrelations.

TORONTO, February 24, 2016-Royal Bank of Canada (RY on TSX and NYSE)
today reported net income of $2,447 million for the first quarter
ended January 31, 2016, flat from the prior year. Our results reflect
higher earnings in Wealth Management which benefited from the
inclusion of our acquisition of City National Bank (City National)
which closed on November 2, 2015 and contributed $53 million to
earnings; $107 million(1) excluding amortization of intangibles of
$31 million after-tax and $23 million after-tax of acquisition and
integration costs. Results also reflect record earnings in Personal &
Commercial Banking and higher earnings in Investor & Treasury
Services offset by lower results in Insurance and Capital Markets.
Our results include favourable foreign exchange translation. Our
provision for credit loss (PCL) ratio of 0.31% increased 7 bps from
the prior year, resulting from the low oil price environment. In
addition, today we announced an increase to our quarterly dividend of
$0.02 or 3% to $0.81 per share.

Compared to last quarter, net income decreased $146 million or 6%,
mainly reflecting the prior quarter net favourable tax adjustments
recorded in Corporate Support. Higher earnings in Investor & Treasury
Services, Wealth Management, Personal & Commercial Banking and
Capital Markets were also partially offset by lower earnings in
Insurance.

We maintained a strong Common Equity Tier 1 (CET1) ratio of 9.9%, down
70 bps from the prior quarter, reflecting the impact from the closing
of the City National acquisition.

"Within the context of a challenging macro environment, we delivered
solid earnings of $2.4 billion this quarter, and I'm pleased to
announce a 3% increase to our quarterly dividend," said Dave McKay,
RBC President and CEO. "In today's environment, I'm confident that
RBC's diversified business model and disciplined risk and cost
management approach position us well to continue to support our
clients and deliver long-term value to our shareholders."

Q1 2016 compared to Q1 2016 compared to Q4 2015· Net income of $2,447
Q1 2015· Net million (down 6% from $2,593 million)· Diluted
income of $2,447 EPS of $1.58 (down $0.16 from $1.74)· ROE of
million (flat from 15.3% (down 260 bps from 17.9%)· Basel III CET1
$2,456 ratio of 9.9% (down 70 bps from 10.6%)
million)· Diluted
earnings per share
(EPS) of $1.58 (down
$0.07 from
$1.65)· Return on
common equity
(ROE)(2) of 15.3%
(down 400 bps from
19.3%)· Basel III
CET1 ratio of 9.9%
(up 30 bps from
9.6%)

Please click on the associated PDF to view the full announcement:

http://www.rns-pdf.londonstockexchange.com/rns/2289Q_1-2016-2-25.pdf

-----------------------------------------------------------
http://news.cision.com/royal-bank-of-canada/r/1st-quarter-results,c9925257
http://mb.cision.com/Main/8160/9925257/482342.pdf

Författare WKR

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.